Concert Pharmaceuticals, Inc. (CNCE) Lowered to “Sell” at Zacks Investment Research
Concert Pharmaceuticals, Inc. (NASDAQ:CNCE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Concert Pharmaceuticals Inc. is a biopharmaceutical company. It is focused on applying its DCE Platform (R) to create novel small molecule drugs. The Company manufactures drugs in various therapeutic areas such as hot flashes, HIV, renal hepatic, neuropathic pain, MRSA infection, and schizophrenia, multiple tumors, and hyperparathyroidism. Concert Pharmaceuticals Inc. is based in United States. “
Several other research firms also recently issued reports on CNCE. HC Wainwright reaffirmed a “buy” rating and set a $21.00 price objective on shares of Concert Pharmaceuticals in a report on Friday. Stifel Nicolaus reaffirmed a “buy” rating and set a $30.00 price objective on shares of Concert Pharmaceuticals in a report on Sunday. ValuEngine raised shares of Concert Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of Concert Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Concert Pharmaceuticals has an average rating of “Hold” and a consensus target price of $24.80.
Shares of Concert Pharmaceuticals (NASDAQ CNCE) traded up 10.54% on Tuesday, hitting $17.41. 662,652 shares of the stock traded hands. The stock has a 50 day moving average of $14.96 and a 200 day moving average of $14.63. The company’s market cap is $394.98 million. Concert Pharmaceuticals has a one year low of $7.11 and a one year high of $19.11.
Concert Pharmaceuticals (NASDAQ:CNCE) last released its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.58) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.62) by $0.04. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.20 million. Concert Pharmaceuticals had a negative net margin of 60,681.70% and a negative return on equity of 61.98%. Equities analysts anticipate that Concert Pharmaceuticals will post ($2.18) earnings per share for the current year.
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In other Concert Pharmaceuticals news, insider Ryan Lynch sold 3,500 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $14.51, for a total transaction of $50,785.00. Following the transaction, the insider now directly owns 9,500 shares of the company’s stock, valued at $137,845. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Value Fund L. P. Biotechnology acquired 331,916 shares of the firm’s stock in a transaction on Thursday, October 19th. The shares were bought at an average cost of $15.84 per share, for a total transaction of $5,257,549.44. The disclosure for this purchase can be found here. Company insiders own 10.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Ingalls & Snyder LLC lifted its holdings in Concert Pharmaceuticals by 14.5% during the third quarter. Ingalls & Snyder LLC now owns 1,209,062 shares of the biotechnology company’s stock valued at $17,834,000 after purchasing an additional 153,062 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Concert Pharmaceuticals by 1.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,052 shares of the biotechnology company’s stock worth $210,000 after buying an additional 287 shares in the last quarter. State Street Corp lifted its stake in shares of Concert Pharmaceuticals by 9.5% in the second quarter. State Street Corp now owns 300,093 shares of the biotechnology company’s stock worth $4,186,000 after buying an additional 26,024 shares in the last quarter. Lyon Street Capital LLC lifted its stake in shares of Concert Pharmaceuticals by 405.5% in the second quarter. Lyon Street Capital LLC now owns 434,752 shares of the biotechnology company’s stock worth $6,065,000 after buying an additional 348,741 shares in the last quarter. Finally, QS Investors LLC purchased a new position in shares of Concert Pharmaceuticals in the second quarter worth about $1,294,000. 61.50% of the stock is currently owned by institutional investors and hedge funds.
About Concert Pharmaceuticals
Concert Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of small molecule drugs. The Company operates through the development of pharmaceutical products on its own behalf or in collaboration with others. The Company’s deuterated chemical entity platform (DCE Platform), has potential across various therapeutic areas.
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